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Bitcoin on track for lowest weekly close since September 2024, Jason Pizzino notes
Jason Pizzino, crypto trader & analyst at YouTube / Trading, highlights that Bitcoin is poised to end the week on a weak note and may close at its lowest price since September 2024.
Pizzino points out that the next lowest closing price was in February 2024 at $54,000, aligning with Bitcoin's 300-week moving average and his conservative price target. He also notes that several major time frames are closing this week.
Earlier this year, Pizzino said Bitcoin bulls were starting to shift their views as the market neared a cycle low, adding that further capitulation might occur in the coming weeks, according to a previous article. In another recent note, he questioned the lack of bullish support after Bitcoin fell to $64,000 and highlighted possible changes in sentiment among traders, per a separate report. These observations follow a period of heightened uncertainty for the cryptocurrency.
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